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Presentation

2

Disclaimer

Certain statements in this presentation may constitute forward-looking statements. Such statements are subject to known and unknown risks and uncertainties that could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. These risks include changes in customer demand for the Company’s products, changes in raw material costs, seasonal fluctuations in customer orders, pricing actions by competitors, significant changes in the applicable rates of exchange of the Brazilian real against the US dollar, and general changes in the economic environment in Brazil, emerging markets or internationally.

3

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

4

Corporate Overview

Suzano is a forestry-based company, publicly traded, controlled by Suzano Holding. Suzano operates in the pulp and paper businesses.

Capital Structure (3/31/13)

Free Float Controlling Group Treasury

54% 3% 43%

• 2nd largest eucalyptus pulp producer in the

world

• 8th largest market pulp producer in the world
• Pulp production costs: one of the lowest in

the world

• Leader in the regional paper market
• Certified plantations and products
• Organic Growth in pulp
• New businesses: biotechnology and wood

pellets for energy

• Market cap: R$3.2 billion on 3/31/12

Forests Miils Ports Railroad

Portocel Vitória Pecém Port Itaqui Port Mucuri Santos Limeira Suzano Rio Verde Embu “Norte e Sul” Railroad “Carajás” Railroad Piauí Maranhão Transnordestina

5

Organizational Structure

The Business Units model provides performance and return assessments in each business independently.

Audit Paper BU BU: Business Units SP: Service Providers BD Commitees SP Corporate Dev.

Board of Directors (BD) 9 members (4 independent) CEO and Strategy

SP Operations SP Finance and IR SP Human Resources Pulp BU Forestry BU Sustainability and Strategy Management

6

Products and Diversified Markets

Suzano’s products portfolio is made of market pulp, paperboard, uncoated paper and coated paper. Net Revenue

52% Exports / 48% Domestic Market

R$4.8 billion

Market Pulp

2nd eucalyptus market pulp producer

40%

Paper

60%

Printing and Writing

44%

Uncoated

1st in Brazil with 35% market share

36%

Coated

1st in Brazil with 30% market share

8%

Paperboard

2nd in Brazil with 26% market share

13%

Note: Figures of last 12 months ending on 3/31/2012. Other paper represented 3% of net revenue on the period. The market share data includes paper imports.

7

Timeline

Suzano has over 80 years of operation. 1924 a 1940 1950 1960 until 1990 2000 2024

7

1939 1955 1956 1960 1975 1982 2005 2004 2010 1992 2007 2008 1924

Consolidation as one of the largest Brazilian Groups Growth and diversification in the pulp and paper businesses Beginning of

• perations in the

paper industry First investment in the pulp sector Suzano 2024

Acquisition of Suzano mill Beginning of paper exports to Europe Acquisition of Ripasa (50%) Start up of the first paper mill Start up of Bahia Sul Pioneerism in eucalyptus plantation Leon Feffer starts paper trading activities Acquisition of Indústrias de Papel Rio Verde’s control Launch of Report Adoption of Bovespa’s Level I corporate governance standards and Professional Management Start up of Line 2 at Mucuri Merger with Bahia Sul New Growth Cycle Suzano Renewable Energy Acquisition of FuturaGene, PLC. Acquisition of 50%

• f Conpacel and

KSR.

8

Strategy – Suzano 2024

Forestry competency provides the foundation for growth of the pulp business and enables new business opportunities in Biotechnology and Renewable Energy.

Operational excellence in paper Renewable Energy (Wood pellets) Organic growth in pulp Biotechnology

Forestry Competency

9

Organic Growth in Pulp

Suzano’s production capacity has increased by 130% in the last 6 years. The Company is prepared for a new growth cycle that will increase its capacity to 6.2 MM ton/year of pulp and paper by 2016.

784 915 1.080 1.100 1.100 1.100 1.100 1.290 1.290 1.290 1.290 1.290 1.290 456 570 640 820 1.650 1.750 1.750 1.920 1.920 3.420 3.420 3.420 4.920 1.240 1.485 1.720 1.920 2.750 2.850 2.850 3.210 3.210 4.710 4.710 4.710 6.210

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e

Piauí Unit Maranhão Unit Paper Pulp

Note: Investment decision on Piauí Project expected for 1H14.

10

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

Agenda

Forestry Assets

Suzano’s forestry expertise, developed over years of consistent investments in R&D, allows the Company to expand its forestry assets to a new frontier: the northeast region of Brazil.

2012 Total area (k ha) 1 802 Total planted area (k ha) 2 439 Own planted area (k ha) 1 349 Forest Partnership Program (k ha) 90 Own Preserved Area (k ha) 1 310 Average Distance in Bahia (km) 73 Average Distance in São Paulo (km) 237

Base 12/31/2011

1 Own and leased areas 2 Figures consider own, leased and third-parties areas

2011 Annual planting (k ha) 87 Planted seedlings / day (k) 356

Total: 188 k ha Planted: 118 k ha Total: 228 k ha Planted: 131 k ha Total: 385 k ha Planted: 100 k ha SP BA, ES and MG MA, PI and TO

SP MG BA ES TO PI MA

11

Note: Both own and leased land can suffer variation up to 5% quarter over quarter. The total amount can differ due to rounding.

Forestry Competitiveness

Suzano’s innovation present in its DNA, responsible forest management and operational excellence enabled the leverage of competitiveness. Investments in technology guarantee a highly diversified genetic portfolio, which is suitable for different regions

+ 14 thousand clones developed | 800 field trials | 4 thousand hectares

Genetic enhancement

Biotechnology

Forestry management

Sustainability

Operational excellence

Productivity

+ +

12

Evolution of Maranhão Forests

80’s 90’s 00’s 10’s

Forestry Technology

Nurseries with high technology standards guarantees production efficiency.

• Suzano’a pioneering and innovation

enable the development of extensive genetic base and improvement of stewardship techniques

• Highly qualified forestry technology

team(42 researchers: 2 PhDs and 8 Masters Degrees)

Suzano/Futuragene technology center

Technology Center Nurseries (85mm total seedling capacity)

Suzano

Seedling capacity of 12mm

Limeira

Seedling capacity of 8mm

Mucuri

Seedling capacity of 20mm

Maranhão

Seedling capacity of 15mm

Piauí

Seedling capacity of 30mm

Brazil’s most modern nursery

13

Forestry Competitiveness in Brazil

Brazil presents competitive advantages to support continuous increase of its global forestry standing.

14 40 22 20 18 15 12 6

Source: ABRAF, BRACELPA, Poyry, Adapted by STCP Consulting

Hardwood Productivity (m³/ha/year)

Brazil Australia South Africa

Portugal

USA Finland Chile

Competitive Advantages

• Availability of productive land
• Excellent soil and climate conditions
• Short harvesting cycle for planted forests
• Opportunity to recovery degraded areas
• Low establishments and maintenance costs

Pulp Productivity

5.5 admt1/ha/year 11 admt1/ha/year

Biotechnology 1980 2011

+100%

Source: Suzano

• More wood / hectare
• More pulp / m³
• Superior quality
• Smaller area
• Decreasing costs / m³

1Admt: air dried metric ton

15

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

591 643 803 831 524 513 532 535 1.115 1.156 1.335 1.366 2009 2010 2011 LTM

61% 3% 17% 8% 11%

• Leadership in printing & writing and white paperboard in South

America

• More than 90% integrated production (pulp + paper)
• Fx hedge: approximately 65% of paper revenue in local currency
• Lower price volatility in the domestic market
• Paper merchants:
• KSR e SPP NEMO: largest in Latin America
• Stenfar: top 5 in Argentina

16

1 Last twelve months ending on 3/31/2012

1

Paper Assets

Operational excellence in paper: revenue and products portfolio management, asset

• ptimization, and strengthening of distribution channels.

Sales Volume (k ton) Sales Destination – LTM1

Domestic Market Exports

Others Europe North Am. South/Central Am. Brazil

Paperboard

2nd in Brazil 26%

Paper Printing & Writing Coated

1st in Brazil

Uncoated

1st in Brazil 35% 30%

Suzano Market Share in the Domestic Market – LTM1

17

Focus in the Domestic Market

Lower price volatility, better margins and important cash flow generator. Paperboard

• Market dominance in high value added

segments

• Low level presence of imports
• Growth of the consumer industry

Printing & Writing

• Imports: high concentration of coated
• Exchange rate’s effects
• Fiscal control of Immune paper
• perations

Paperboard Printing & Writing

Average Net Price

(base 100 in Jan/2009)

Average Net Price

(base 100 in Jan/2009)

Note: Prices of domestic market in R$; prices of exports in US$

50 70 90 110 130

jan/10 mar/10 mai/10 jul/10 set/10 nov/10 jan/11 mar/11 mai/11 jul/11 set/11 nov/11 jan/12 mar/12

104

50 70 90 110 130

jan/10 mar/10 mai/10 jul/10 set/10 nov/10 jan/11 mar/11 mai/11 jul/11 set/11 nov/11 jan/12 mar/12

115

Paper Market Growth

Economic growth in emerging markets favors paper consumption.

1 Woodfree Printing & Writing paper I 2 Latin America excluding Brazil I 3 Paperboard + liquid packaging board

Source: RISI and Poyry (nov/2011)

Global

2011e Paper Demand (k ton)

2,936

Uncoated Paperboard3 Coated

993

1.837 2.366 54.180

1,943 { 587 1,356 Printing & Writing1 Brazil 4,969 1,793 821 2,355 Latin America2 3,176{

2.366

128,601 46,948 27,473 54,180

{

81,653 CAGR 2011e – 2016e Brazil Latin America2 Global Paperboard3 +3.9% +3.5% +3.0% Printing & Writing1 +3.8% +3.1% +1.0% Coated +4.2% +3.2% +1.0% Uncoated +3.6% +3.0% +1.1%

18

Paper Demand Growth Drivers

Historically there is a high correlation between GDP and paper consumption.

1 Excluding China and Japan

Source: 2010 paper consumption data from Poyry (nov/2011) and 2010 GDP per capita information from World Bank (sep/2011)

China 68 kg/ha/year GDP per capita: US$4 k USA 233 kg/ha/year GDP per capita: US$47 k Índia 9 kg/ha/year GDP per capita: US$1 k Brazil 47 kg/ha/year GDP per capita: US$11 k 19

North America 226 kg/ha/year Latin America 44 kg/ha/year Ásia1 19 kg/ha/year Europe Western: 185 kg/ha/year Eastern: 47 kg/ha/year

317 304 285 294 257 70

450 525 486 632 570 144 2007 2008 2009 2010 2011 1T12 40% 44% 47% 57% 70% 69% 72% 66% 56% 60% 55% 56% 53% 42% 43% 54% 58% 54% 60% 2007 2008 2009 2010 jan-11 fev-11 mar-11 abr-11 mai-11 jun-11 jul-11 ago-11 set-11 out-11 nov-11dez-11 jan-12 fev-12 mar-12

2.00 1.95 1.84 1.76 1.68 1.69 1.66 1.59 1.61 1.59 1.56 1.60 1.74

RECOPI1 20

1.77 1.79 1.84 1.79 1.72 1.79

Coated Paper

The share of coated paper imports is high as Brazilian production does not completely meet demand.

Measures adopted by the Brazilian authorities to reduce deviation use for tax exempt paper and BRL depreciation helped decreasing imports market share

Coated Paper Production and Demand (k ton) Imports share in the Brazilian Market (%)

Production Demand

Licenses Penalties

Average R$/US$

1 Brazilian Government Program to control tax exempt paper imports

Source: Bracelpa

21

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

• Technical support in each international office:

China, Switzerland and USA

• 80% of total sales with long term contracts
• More than 150 active clients
• Strategic long-term partnerships with clients:
• Logistics
• Technology
• Pre and post sale technical assistance
• Strategic focus on high value added segmen

21% 36% 30% 2% 11% 30% 38% 21% 8%

261 297 363 383 1.519 1.310 1.445 1.442 1.780 1.607 1.808 1.825 2009 2010 2011 LTM 22

3%

1

Pulp Assets

Sustainable and organic growth: presence in main international markets and strategic relationship with clients.

Sales Volume (k ton)

Printing & Writing Tissue Special Packaging

Sales per Segment – LTM1

Europe Asia North Am. South/Central Am. Brazil

Pulp Sales Destinations – LTM1

Domestic Market Exports

Others

1 Last twelve months ending on 3/31/2012

17 9 3 22 2012e 215 30 49 111 2012e

Pulp Organic Growth Fundamentals

Market pulp accounts for 14% of total fibers for paper production.

23 23

1 Bleached Eucalyptus Kraft Pulp | 2 Bleached Hardwood Kraft Pulp | 3 Bleached Softwood Kraft Pulp | 4 Chemical Market Pulp

Source: Poyry (nov/2011) and PPPC (may/12)

Million ton

Printing & Writing Tissue Paperboard Corrugated Newsprint Others

405

Production (MM ton)

Minerals

51% 49% 72% 28%

8%

8%

131 52 Virgin fiber Recycled 190 183 Global production of paper Total fiber consumption 373 405

BSKP3

52

Others BHKP2 BEKP1

Pulp and Paper Production Chain – 2012e

Integrated pulp Market pulp4

• Market Pulp Demand opportunities:
• 1% reduction in recycled paper =

+1.9 MM ton/year of market pulp

• 1% reduction in integrated capacity =

+1.3 MM ton/year of market pulp

• 2% growth in paper consumption =

+1.0 MM ton/year of market pulp

Pulp Organic Growth Fundamentals

Demand for paper and paperboard is forecasted to grow 42 million tonnes (2010-2015e).

24 24 24

Paper and paperboard demand forecast until 2015e

50 100 150 200 250 300 350 400 450

1995 2000 2005 2010 2015

Others1 Milhões de Toneladas Latin America1 Others Asia1 China1 Japan Eastern Europe1 Western Europe North America

CAGR: 2.1% p.a. Emerging economies: +4.3% p.a. CAGR: 2.2% p.a. Emerging economies: +5.7% p.a.

1 Emerging economies includes Latin America, Asia (except for Japan), Middle East, Oceania, Africa and Eastern Europe

Source: Poyry (nov/2011)

Sack 20% 40% 100% 60% 80%

Pulp Organic Growth Fundamentals

Paper demand forecast is growing for grades that are Eucalyptus fiber users over the next years.

25 25 25

Main BEKP end-users

1.5 0.0

• 1.5

3.0 4.5

• 3.0

Uncoated mechanical News- print Coated woodfree Other Grades1 Tissue Carton board Container board

CAGR 2011e – 2016e (% a.a.)

Uncoated woodfree Coated mechanical

Paper demand forecast: CAGR (2011e – 2016e) 2.0% p.a.

1 Other grades includes special paper segment

Source: Poyry (nov/2011)

43 44 49 46 46 47 50 49 51 52 53

10 11 13 14 16 16 17 17 19 20 21 11 11 10 9 9 10 9 9 9 9 22 22 26 22 21 22 23 22 23 23 24

10 20 30 40 50 60 5 10 15 20 25 30 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mercado BEKP Outros BHKP BSKP

Pulp Organic Growth Fundamentals

Eucalyptus pulp has replaced other short fibers and the actual price spread between hardwood and softwood should continue to favor this replacement.

26 26 26

Volume by fiber type (million tonnes)

CAGR BEKP: +9.5%a.a | Other BHKP: -2.5%a.a. CAGR BEKP: +4.7% a.a. | Other BHKP: -2.9%a.a.

Bleached Market Pulp Demand Projections (2011e – 2015e)

Total Market Volume (million tonnes)

1 Bleached Market Pulp | 2 Bleached Eucalyptus Kraft Pulp | 3 Bleached Hardwood Kraft Pulp | 4 Bleached Softwood Kraft Pulp

Source: PPPC (May/2012)

2 3 4 1

BC

654

• E. Canada

650 711

France

533

Sweeden

587

Japan Finland

555 697

Russia

406

Japan

629

Canada

585

China

597

France

507

USA USA BC Coasty

469

Chile

517

Sweeden

505

Finland

468

Iberia

427

Indonesia

405

Chile

387

Brazil

335 15.8 MM ton 8.5 MM ton 15.4 MM ton 2.9 MM ton 27 574

Brazilian Competitiviness

Suzano is in the lowest cash cost region.

Cash Cost CIF / Europe (US$/tonne)

Low Cost High Cost High Cost Low Cost

Hardwood Softwood

Source: Hawkins Wright (Mar/ 2012)

28

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

Maranhão Unit

State of the art facility technology and top tier suppliers contracted.

29 29 29

• 1. Wood yard
• 2. Cooking and Fiber lines
• 3. Dryer
• 4. Evaporation
• 5. Boiler
• 6. Lime kiln
• 9. Water treatment
• 10. Effluent treatment
• 7. Turbo generators
• 8. Energy distribution and substation
• Conceptual engineering
• Basic engineering
• Detailed engineering:

BOP1 and infrastructure

• Management of BOP1

implementation and infrastructure

9

1 Balance of Plant

Fonte: Poyry and Suzano

8 3 2 4 5 1 6 10 7

Phase II PLANNING Ongoing

Maranhão Unit Schedule

Track record of successfully executing projects on schedule, implementing business plans and meeting budgets.

30 30 30

• Market study
• Preliminary feasibility

study

• Conceptual engineering
• General planning
• Purchases
• Construction and

assembly

• Commissioning

Phase IV Start up 4Q13

Forestry

• Purchase
• f

land, licenses, permissions and plantations Industrial, port, railway

• Environmental licenses
• Conceptual and basic engineering

Phase I BEGINNING Concluded Phase III EXECUTION Ongoing

2011 2012 2013 Infrastructure Civil work Erection Commissioning Start up Mar-12 Mar-13 4Q13 Aug-13 Sep - 13

Maranhão Project Status

Construction works with 95% of suppliers already contracted.

31

• 30% of physical construction completed:
• Earth moving works completed
• 65% of physical infrastructure completed.
• 38% of equipment manufacturing concluded.
• Boiler foundations completed.
• More than 90 containers with boiler metallic structures already

delivered to the site.

• Around 5,400 people are working to create the forestry base and

construct the Maranhão unit

• More than 3,000 people have graduated from the Capacitar training

program.

0% 20% 40% 60% 80% 100% Industrial Forest formation (planted area) Completed Pending

Contracted Suppliers 167,000 ha

Logistic Solution

Railway transportation from the plant to the port and strategic located to export to the main pulp markets.

32 32 32

Port in the São Luís1 region

500 Km through Carajás railway 100 Km through Norte-Sul railway

• Capacity: 10 production

days

• The train will go through

the warehouse, allowing for loading from both sides Transit time: around 4 days shorter to main destinations compared to ports in the South East of Brazil

Maranhão Unit Model Warehouse

1 Ilustração

33

• Funding:
• BNDES: R$2.7 billion, 12 years to pay and 3-year grace period
• Mandatory convertible debentures: R$1.2 billion
• Funding for the imported equipment supported by foreign credit agencies (ECA’s among others)
• Cash flow generation

Capex (R$ million) 2009 2010 2011 1Q12 Total Forest 193 159 177 17 546 Industrial 4 664 237 905 Total 193 162 841 254 1,450

Capex

Long term financing, grace period and competitive cost. Maranhão Unit

Estimated Forest Capex US$ 575 million Estimated Industrial Capex1 US$ 2.3 billion

1 Figures consider exchange rate of R$1.80/US$

34

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

35 35 35

FuturaGene

Biotechnology is on the right side of Sustainability. Base Case: Suzano Pulp and Paper

907 k ha

Less land utilization Lower forest formation cost

Innovating for sustainability

• Less land utilization
• Less chemical expenditure
• Higher carbon sequestration

2015e Planted Area

Necessidade de terras (ha) Produtividade

Yield Increase 1% 5% 10% 15% 20% 30% 50%

• 9 k ha
• 45 k ha
• 90 k ha
• 136 k ha
• 181 k ha
• 272 k ha
• 454 k ha

Land utilization

36 36 36

• FuturaGene is present in 60% of the eucalyptus market
• Well positioned to be world leader in forest biotechnology

India 3,9 MM ha Brazil 4,5 MM ha China 3,0 MM ha South Africa 0,6 MM ha Thailand 0,5 MM ha

Global Eucalyptus Forest Map

Source: GIT Forestry Consulting, http://git-forestry-blog.blogspot.com

FuturaGene

Biotechnology is on the right side of Sustainability. Upside: new business

37

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

Project update

• Protocol signed with Maranhão government
• Ongoing activities:
• Forest: Specific clones selected, dedicated plantation

(Energy Forests)

• Engineering with Promon and Stolberg (Canadian)
• Commercial: Advanced negotiation of final contracts with

clients

• Dedicated team

Suzano Renewable Energy

Forestry competency enables new business opportunities.

38 38 38

• 3 units: 1 MM ton/year each
• Estimated start-up: 2014
• Funding: definition of the capital structure
• World leader
• Initial focus on the European market

Wood pellets for energy, produced from renewable energy-oriented forests

39

Agenda

01 | Corporate Overview and Strategy 02 | Forestry 03 | Paper 04 | Pulp 05 | Maranhão Unit 06 | Biotechnology 07 | Suzano Renewable Energy 08 | Financial Results

1.377 1.663 1.622 1.557

1.609 2.018 2.013 1.951 2009 2010 2011 UDM

1.426 1.560 1.858 1.900 918 936 978 977

2.344 2.496 2.836 2.877 2009 2010 2011 UDM 1.161 1.725 1.302 1.191 2009 2010 2011 UDM

1.657 1.915 2.248 2.294 2.295 2.599 2.600 2.534

3.952 4.514 4.848 4.828 2009 2010 2011 UDM 2.896 2.763 3.143 3.191 29,4% 38,2% 26,8% 24,7% 40 40 40 1.780 1.607 1.808 1.825 1.116 1.156 1.335 1.366

1.70 2.00 1.76 1.67 2.00 1.76 1.67 1.70

1 1 1 1

Results

Net Revenue and EBITDA

EBITDA (R$ million) and EBITDA Margin (%) Net Revenue (R$ million) and Volume (k ton) Paper: Revenue (R$ million) and Volume (k ton) Pulp: Revenue (R$ million) and Volume (k ton)

Average R$/US$ Average R$/US$ Domestic Market Exports Volume Domestic Market Exports Volume Domestic Market Exports Volume

1 Last twelve months ending on 3/31/2012

41 41 41

Debt

Conservative financial policy with long-term debt profile

41 Gross Debt (R$ million)

Short Term Long Term

8.744 9.308 693 (24) (105)

Gross Debt (Dez/11) Funding / Amortizations Interest Foreign Exchange Variation Gross Debt (Mar/12)

• Cash position: R$ 3.6 bilion (mar/12)
• Net debt / EBITDA: 4.8x (mar/12)
• Project finance: grace period and gradual

amortization aligned with the project’s cash flow

• The Company is working on initiatives to

reduce leverage

Amortization Schedule (R$ million) 2.013 1.198 1.157 704 1.249 439 2.548

9M12 2013 2014 2015 2016 2017 2018

• nward

42 42 1,6x 1,6x 2,7x 3,8x 3,7x 3,7x 3,5x 2,0x 4,2x 4,8x

1.647 1.616 2.475 3.919 4.285 5.459 4.111 3.421 5.470 5.736

1.000 1.039 913 1.040 1.146 1.469 1.161 1.725 1.302 1.191 2003 2004 2005 2006 2007 2008 2009 2010 2011 LTM1

Debt

Leverage can increase temporally due to the growth projects capex, but amortizations are in line with cash flows from these projects.

1 Last twelve months ending on 3/31/2012

Note: The amounts of 2009, 2010 and LTM include the adjustments introduced by the IFRS standards Net Debt (R$ million) EBITDA (R$ million) Net Debt/EBITDA (x)

Ripasa Acquisition Implementation

• f

Mucuri Project Start up of line 2 at Mucuri World economic crisis Conpacel Acquisition Primary Offer Bahia Sul Incorporation

43

Investment Plan

Growth projects will be developed with discipline, respecting Company’s financial solidity.

0,5 0,5 0,5 2,7 3,0 1,7

3,2 3,5 2,2 2011 2012e 2013e Estimated Capex (R$ billion)

Sustain Growth Note: 2012 figures do not include investments on Suzano Renewable Energy. The investment is conditional on the capital structure definition.

Em Estudo Growth Investment Plan:

• No change in the Maranhão project investment
• Piauí forest investment reduced to the minimum

amount necessary for sustain

• As for the Suzano Renewable Energy investment

in 2012, Suzano Pulp and Paper will contribute existing land and forest

Why to invest in Suzano?

44 44 44 44

High Level of Own Energy Production Low production costs Extensive know-how and high planted forest productivity Balanced mix

• f products

Experienced Management Team Strong

• perating

cash flow

Investor Relations

45 45 45 45

Investor Relations www.suzano.com.br/ir ri@suzano.com.br

Board of Directors

Experienced and active

46 46 46 46

Experience of 36 years in the pulp and paper industry. CEO of Suzano Holding S/A, Chairman of the Board of Directors of Suzano Pulp and Paper S/A and Coordinator of the Management Committee. CEO of IPLF Holding and Nemopar Investimentos Ltda. CEO and Vice President of the Board of Directors of Polpar S/A. Experience of 35 years in the pulp and paper industry. Vice President of FIESP. Member of BRACELPA’s and IBEF’s Advisory

• Board. Chairman of the Board of Directors for the Brazilian Committee of Britain Brazil Business Forum.

Executive Vice President of Suzano Holding S/A. Coordinator of Sustainability and Strategy Committee and member of Audit Committee and member of the Compensation Commission of the Board of Directors; Former president of the board and CEO of Hoechst of Brazil. Board of Directors member of Lojas Renner S/A, RBS Group, Cyrela Brazil Realty, OGX and Chemical Group DSM/Holanda. Experience of 31 years in the pulp and paper industry. Member of the Board and the Committee of Sustainability and Strategy; Director of Premesa, Corporate VP of Suzano Holding and IPLF Holding, Executive Officer of Nemonorte and Vocal. Senior partner of Machado, Meyer, and Sendacz Opice Lawyers and former member of the Board of Directors of OAB Brazil. President of CESA. Former Legal Adviser and Chairman of the Legislative Committee of the American Chamber of Commerce and Director of ABRASCA’s Legislative Committee. (Independent) Member of Audit Committee. Senior partner of Integra Associates. Member of Gerdau S/A’s Board of Directors, Metalúrgica Gerdau, Sao Paulo Alpargatas, Localiza, and Johnson Electric (Hong Kong); Board Member of Bunge Brazil and Alcoa Brazil. Oscar was President of Bunge International and Managing Partner in Booz-Allen & Hamilton. (Independent) Coordinator of Suzano Pulp and Paper’s Audit Committee. Member of the Board of Directors of TAM Airlines and TAM Aviação

• Executiva. Former CEO of TAM Airlines and WTorre. (Independent)

Co-Chairman of the Board of Directors of BRF-Brasil Foods. Board member of WEG S/A, Ultrapar Participações S/A and Iochpe- Maxion S/A. Former CEO of Perdigão Group. Former Director of the National Bank for Economic and Social Development - BNDES, and General Director of Corporate Group Iochpe-Maxion Industrial Holding. (Independent)

DAVID FEFFER President DANIEL FEFFER

• V. President

BORIS TABACOF

• V. President

CLÁUDIO SONDER ANTONIO MEYER OSCAR BERNARDES MARCO BOLOGNA NILDEMAR SECCHES JORGE FEFFER

Experience of 32 years in the pulp and paper industry. Member of Sustainability and Strategy Committee, Chairman of Polpar’s Board of Directors, President of Premesa, Corporate VP of Suzano Holding, IPLF Holding and Nemopar, President of Nemonorte, Chairman of Ecofuturo Institute’s Board of Directors.

Chief Executive Officer, also responsible for Strategy Department, 6 years at Suzano. Member of the Board of Director Member

• f Archer Daniels Midland Company and Marfrig Frigoríficos. Vice President of BRACELPA. Former member of the Board of Director
• f SEBRAE, Gradiente, Cecrisa and Amcham. Former Chaiman of Ford Brasil and Ford Latin America, Itamarati Group, Ferronorte

and Cecrisa and former Executive of Petrobras and the Federal Government. Mechanical Engineer graduated at UFRJ. Chief Operation Officer, 5 years at Suzano. Has worked as Expansion Project Director of Mucuri Unit. Former executive of Dow Chemical Company, in Brazil, USA and Europe. Post-Graduated in Business Administration at FIA/USP. Pulp Business Unit Executive Officer, joined Suzano in 2009. Former CEO of European operations of RGM Group and Commercial Director of Aracruz. Graduated in Business Administration at Fundação Getulio Vargas (FGV). Paper Business Unit Executive Officer, 6 years at Suzano. Former Executive Manager of Suzano’s Pulp Business Unit and Sales General Manager for Latin America at General Electric in the Industrial Systems Division. MBA degree from Ibmec-SP. Electrical Engineer from UFMG. Human Resources Executive Officer, 2 years at Suzano. Former Human Resources Manager for Aviation Operations in General Electric in Brazil and abroad, Global HR Director for Information Technology in the United States and HR Director for Mexico and Latin America. Former Executive of Carioca Engenharia, CR Almeida, Comlurb and Bureau Veritas. Post Graduated in Business Administration at COPPEAD-UFRJ. Executive Officer, responsible for the Forestry Business Unit. In 2005, he took the position of Executive Superintendent Officer of

• Conpacel. During his career, he has served as Planning Manager at Indústrias de Papel Simão, Industrial Superintendent at

Votorantim Celulose e Papel S.A. (currently Fibria Celulose S.A.), and Executive Officer at Ripasa S.A. Celulose e Papel. Mr. Bassetti wrote three books on the topic of People and Environment Management, and gives lectures on motivation, leadership and

• entrepreneurship. He also occupies chair no. 39 at the Literature Academy of Piracicaba.

BERNARDO SZPIGEL, 65

Executive Officers

Broad experienced management team

ANTONIO MACIEL NETO ALBERTO MONTEIRO ALEXANDRE YAMBANIS ERNESTO POUSADA CARLOS ANIBAL CARLOS GRINER PAULO BASSETTI

47

Chief Financial Officer, also responsible for Investor Relations Department. Has worked as Chief Financial Officer at CSN and as member of the Board of Director of Congonhas Minérios, NAMISA, Transnordestina S.A., among others. At Banco do Brasil, has worked as Chief Financial Officer of Conglomerado BB S.A., CEO of BB DTVM and President of BESC DTVM. Graduated in Business Administration from FCPE/RJ, MBA degree in Corporate Finance from FGV and Post graduated in Banking from FEA/USP.